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Bush says anxiety feeding market instability

(Agencies)
Updated: 2008-10-10 23:49

WASHINGTON - President Bush said Friday that the government's financial rescue plan was aggressive enough and big enough to work, but would take time to fully kick in.

President George W. Bush speaks about the global financial and credit crisis in the Rose Garden of the White House in Washington, October 10, 2008. [Agencies]

"We are a prosperous nation with immense resources and a wide range of tools at our disposal ... We can solve this crisis and we will," Bush said in brief remarks from the White House Rose Garden.

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Bush spoke as leaders of the world's leading economies gathered in Washington amid frozen credit markets, panic selling in stock markets and a looming global recession.

The president noted that major Western economies were working together in an attempt to stabilize markets and end the spreading panic.

"Through these efforts, the world is sending an unmistakable signal. We're in this together and we'll come through this together," Bush said.

Finance ministers and central bankers from the Group of Seven - the United States, Japan, Britain, Germany, France Italy and Canada - were here for a weekend meeting. Bush plans to meet with the leaders on Saturday.

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